Cinctive Capital Management LP Invests $7.38 Million in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Cinctive Capital Management LP bought a new stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) in the third quarter, HoldingsChannel reports. The fund bought 77,572 shares of the company’s stock, valued at approximately $7,380,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPB. Tidal Investments LLC raised its holdings in Spectrum Brands by 66.0% during the first quarter. Tidal Investments LLC now owns 13,778 shares of the company’s stock worth $1,226,000 after acquiring an additional 5,480 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Spectrum Brands by 1,923.8% in the 2nd quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock valued at $37,000 after buying an additional 404 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Spectrum Brands in the 2nd quarter valued at approximately $6,874,000. TCW Group Inc. grew its stake in shares of Spectrum Brands by 25.2% in the second quarter. TCW Group Inc. now owns 126,861 shares of the company’s stock valued at $10,901,000 after buying an additional 25,551 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in Spectrum Brands by 94.8% during the second quarter. Fifth Third Bancorp now owns 1,734 shares of the company’s stock worth $149,000 after buying an additional 844 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. UBS Group lifted their price objective on shares of Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lifted their price target on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Wells Fargo & Company upped their price objective on Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Finally, Canaccord Genuity Group lifted their target price on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $102.38.

Spectrum Brands Stock Up 0.2 %

Shares of NYSE:SPB opened at $91.95 on Monday. The firm has a market cap of $2.58 billion, a P/E ratio of 22.54, a P/E/G ratio of 1.60 and a beta of 1.19. Spectrum Brands Holdings, Inc. has a 12-month low of $67.34 and a 12-month high of $96.74. The business has a fifty day simple moving average of $91.36 and a 200 day simple moving average of $89.61. The company has a quick ratio of 1.62, a current ratio of 2.30 and a debt-to-equity ratio of 0.26.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Friday, November 15th. The company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.16). Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. The firm had revenue of $773.70 million during the quarter, compared to analyst estimates of $747.80 million. During the same quarter last year, the firm posted $1.36 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Analysts predict that Spectrum Brands Holdings, Inc. will post 5.25 earnings per share for the current year.

Spectrum Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.04%. This is an increase from Spectrum Brands’s previous quarterly dividend of $0.42. The ex-dividend date is Tuesday, November 26th. Spectrum Brands’s payout ratio is currently 46.08%.

Spectrum Brands Profile

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.